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Thread: Chavez Threatens US Oil Cutoff

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    WAB Resident Historian Senior Contributor Kansas Bear's Avatar
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    Chavez Threatens US Oil Cutoff

    CARACAS, Venezuela (AP) - President Hugo Chavez on Sunday threatened to cut off oil sales to the United States in an "economic war" if Exxon Mobil Corp. wins court judgments to seize billions of dollars in Venezuelan assets.
    Exxon Mobil has gone after the assets of state oil company Petroleos de Venezuela SA in U.S., British and Dutch courts as it challenges the nationalization of a multibillion dollar oil project by Chavez's government.

    A British court has issued an injunction "freezing" as much as $12 billion in assets.

    "If you end up freezing (Venezuelan assets) and it harms us, we're going to harm you," Chavez said during his weekly radio and television program, "Hello, President." "Do you know how? We aren't going to send oil to the United States. Take note, Mr. Bush, Mr. Danger."

    Chavez has repeatedly threatened to cut off oil shipments to the United States, which is Venezuela's No. 1 client, if Washington tries to oust him. Chavez's warnings on Sunday appeared to extend that threat to attempts by oil companies to challenge his government's nationalization drive through lawsuits.

    "I speak to the U.S. empire, because that's the master: continue and you will see that we won't sent one drop of oil to the empire of the United States," Chavez said Sunday.

    "The outlaws of Exxon Mobil will never again rob us," Chavez said, accusing the Irving, Texas-based oil company of acting in concert with Washington.

    Exxon Mobil spokeswoman Margaret Ross said the company had no comment. A U.S. Embassy spokeswoman in Caracas did not return a call.

    Venezuela accounted for about 12 percent of U.S. crude oil imports in November, the latest figures available from the U.S. Energy Department. The 1.23 million barrels a day from Venezuela makes that country the U.S.'s fourth-biggest oil importer behind Canada, Saudi Arabia and Mexico.

    Venezuelan Oil Minister Rafael Ramirez has argued that court orders won by Exxon Mobil have "no effect" on the state oil company PDVSA and are merely "transitory measures" while Venezuela presents its case in courts in New York and London.

    Exxon Mobil is also taking its claims to international arbitration, disputing the terms it was granted under Chavez's nationalization last year of four heavy oil projects in the Orinoco River basin, one of the world's richest oil deposits.

    Other major oil companies including U.S.-based Chevron Corp., France's Total, Britain's BP PLC, and Norway's StatoilHydro ASA have negotiated deals with Venezuela to continue on as minority partners in the Orinoco oil project.

    ConocoPhillips and Exxon Mobil, however, balked at the tougher terms and have been in compensation talks with PDVSA.

    Chavez Threatens US Oil Cutoff

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    Oil is a commodity. Therefore in order to hurt us he would have to not sell it to anyone (or sell it far below market prices or in specific barter arrangements). Meaning Venezuela's economy collapses.

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    Official Thread Jacker Senior Contributor gunnut's Avatar
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    I hope he cuts us off. It'll hurt him more than us. In fact, it may help us. Skyrocketing gas price will teach those SUV drivers a thing or two about buying a car that blocks my view.
    "Only Nixon can go to China." -- Old Vulcan proverb.

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    Quote Originally Posted by gunnut View Post
    I hope he cuts us off. It'll hurt him more than us. In fact, it may help us. Skyrocketing gas price will teach those SUV drivers a thing or two about buying a car that blocks my view.
    Well, unless he stops selling oil on the world commodity markets, the only effects it will have are somewhat higher transportation costs for both of us after an initial period of readjustment. After all, it isn't like there aren't other sources of oil/customers out there for everyone involved.

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    Why is this guy still around?

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    Compared to what Canada supplies to the U.S.,this is a drop in the bucket. Not to many Americans realize Canada is the their biggest supplier of energy. Better be nice or we will stop feeding the beavers. Ever seen a beaver stampede when the little fur balls are hungry. Cities have disappeared!

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    WAB Resident Historian Senior Contributor Kansas Bear's Avatar
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    Quote Originally Posted by Adux View Post
    Why is this guy still around?
    My question exactly!

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    Banned Senior Contributor dalem's Avatar
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    Quote Originally Posted by Adux View Post
    Why is this guy still around?
    Because he is incredibly unimportant. A whacky lefty bent on ruining his country.

    Ho hum.

    -dale

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    Quote Originally Posted by Exarecr View Post
    Compared to what Canada supplies to the U.S.,this is a drop in the bucket. Not to many Americans realize Canada is the their biggest supplier of energy. Better be nice or we will stop feeding the beavers. Ever seen a beaver stampede when the little fur balls are hungry. Cities have disappeared!
    We know all about your plans to invade! Massing 90% of your population along our border and whatnot! Working for the English eh? Cut off our natural gas, and then provide a place for their redcoats to land?

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    You have more girl guides then Canada has people. You could swarm us with girl guide cookies as weapons of mass consumption!

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    Banned Senior Contributor dalem's Avatar
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    Quote Originally Posted by Exarecr View Post
    You have more girl guides then Canada has people. You could swarm us with girl guide cookies as weapons of mass consumption!
    Heh. The last time we fought you guys it didn't work out so well for us.

    -dale

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    A Self Important Senior Contributor troung's Avatar
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    Heh. The last time we fought you guys it didn't work out so well for us.
    It was the Canadian winter and polar bear technology - with global warming along with the decline of the polar bear population; round three will be an American victory.

    The boys will be home by X-mas.
    To sit down with these men and deal with them as the representatives of an enlightened and civilized people is to deride ones own dignity and to invite the disaster of their treachery - General Matthew Ridgway

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    Quote Originally Posted by troung View Post
    It was the Canadian winter and polar bear technology - with global warming along with the decline of the polar bear population; round three will be an American victory.

    The boys will be home by X-mas.
    Well, the Canadians do have a commanding lead in Zamboni technology.

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    Quote Originally Posted by troung View Post
    It was the Canadian winter and polar bear technology - with global warming along with the decline of the polar bear population; round three will be an American victory.

    The boys will be home by X-mas.
    Celine Dion is vacationing back in Canada you know *** grumble, grumble ***

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    Quote Originally Posted by Officer of Engineers View Post
    Celine Dion is vacationing back in Canada you know *** grumble, grumble ***
    Sir, haven't you ever considered that Miss Dion might just be an American plot to annoy the living hell out of our neighbors to the north, particularly you?

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